Xiao Jiucai · Web3 On-Chain & Crypto Asset Intelligence Brief (October 8 Special Edition)
Reference period: October 7, 08:35 to October 8, 08:35 | First-hand analysis of vertical Web3 on-chain sectors
【In-Depth Analysis by Large Language Models · Strategic Takeaways】
Over the past 24 hours, on-chain markets have seen an intense clash between leveraged positions being flushed out and spot holdings being accumulated. Surging oil prices above $100 and soaring U.S. Treasury yields have severely dampened risk appetite. U.S. tech stocks and crypto assets have fallen in tandem, triggering over $700 million in long liquidations across the market. Yet the on-chain microstructure has shown no signs of panic-driven capitulation: BTC reserves on exchanges have fallen to a multi-month low of 6.50%, with net outflows of more than 24,000 BTC in a single day. CVD data shows that large whales led the price down to $83,000 before quickly buying back at lower levels, absorbing spot selling pressure from the U.S. government’s transfer to Coinbase Prime. Spot ETFs have diverged in the short term, but institutional core holdings, including BlackRock’s, remain firm. The more far-reaching industry shift lies in the clearing out of artificial demand and the migration of real finance on-chain: abstract L2s without the ability to generate sustainable revenue are exiting faster, while major CEXs and DeFi are accelerating their embrace of tokenized U.S. stocks, cross-asset unified margin, and stablecoin payments. The number of global stablecoin-holding addresses has exceeded 300 million, and on-chain finance is shifting from creating tokens out of thin air to reconstructing traditional trillion-dollar financial assets through tokenization. Quantitative models indicate that $81,000–$83,000 is a high-probability stepped support zone. The current pullback is essentially a leveraged liquidation driven by macroeconomic shocks, not the end of the trend. After this shakeout and consolidation, the medium-term outlook remains firmly bullish.
【Key First-Hand Developments in the Past 24 Hours】
• Rising interest rates rekindle inflation concerns; U.S. stocks retreat as Bitcoin continues to probe for support: According to BlockBeats, on October 8, U.S. consumers’ one-year inflation expectations rose to 3.9% overnight, the highest in more than three years, indicating improved confidence in the labor market.
• Vitalik: AI could threaten the security of post-quantum cryptography within the next two years, but users should not rush to move their assets: He believes AI could drive mathematical research forward by as much in two years as it advanced over the past 50 years. As a result, Ethereum’s Lean roadmap has gradually shifted over the past year toward a pure hash-based signature scheme, reducing reliance on lattice cryptography.
• Lessons for Bitcoin traders, one year after the $20 billion crypto liquidation day: This weekend a year ago, the crypto market experienced the largest forced selling event in its history.
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First-hand facts and in-depth AI analysis from across the market are now available on the official website:
First-hand facts from across the market and multidimensional in-depth AI analysis are now available on the official dashboard. See the pinned post on our homepage for exclusive access.
Reference period: October 7, 08:35 to October 8, 08:35 | First-hand analysis of vertical Web3 on-chain sectors
【In-Depth Analysis by Large Language Models · Strategic Takeaways】
Over the past 24 hours, on-chain markets have seen an intense clash between leveraged positions being flushed out and spot holdings being accumulated. Surging oil prices above $100 and soaring U.S. Treasury yields have severely dampened risk appetite. U.S. tech stocks and crypto assets have fallen in tandem, triggering over $700 million in long liquidations across the market. Yet the on-chain microstructure has shown no signs of panic-driven capitulation: BTC reserves on exchanges have fallen to a multi-month low of 6.50%, with net outflows of more than 24,000 BTC in a single day. CVD data shows that large whales led the price down to $83,000 before quickly buying back at lower levels, absorbing spot selling pressure from the U.S. government’s transfer to Coinbase Prime. Spot ETFs have diverged in the short term, but institutional core holdings, including BlackRock’s, remain firm. The more far-reaching industry shift lies in the clearing out of artificial demand and the migration of real finance on-chain: abstract L2s without the ability to generate sustainable revenue are exiting faster, while major CEXs and DeFi are accelerating their embrace of tokenized U.S. stocks, cross-asset unified margin, and stablecoin payments. The number of global stablecoin-holding addresses has exceeded 300 million, and on-chain finance is shifting from creating tokens out of thin air to reconstructing traditional trillion-dollar financial assets through tokenization. Quantitative models indicate that $81,000–$83,000 is a high-probability stepped support zone. The current pullback is essentially a leveraged liquidation driven by macroeconomic shocks, not the end of the trend. After this shakeout and consolidation, the medium-term outlook remains firmly bullish.
【Key First-Hand Developments in the Past 24 Hours】
• Rising interest rates rekindle inflation concerns; U.S. stocks retreat as Bitcoin continues to probe for support: According to BlockBeats, on October 8, U.S. consumers’ one-year inflation expectations rose to 3.9% overnight, the highest in more than three years, indicating improved confidence in the labor market.
• Vitalik: AI could threaten the security of post-quantum cryptography within the next two years, but users should not rush to move their assets: He believes AI could drive mathematical research forward by as much in two years as it advanced over the past 50 years. As a result, Ethereum’s Lean roadmap has gradually shifted over the past year toward a pure hash-based signature scheme, reducing reliance on lattice cryptography.
• Lessons for Bitcoin traders, one year after the $20 billion crypto liquidation day: This weekend a year ago, the crypto market experienced the largest forced selling event in its history.
————————————
First-hand facts and in-depth AI analysis from across the market are now available on the official website:
First-hand facts from across the market and multidimensional in-depth AI analysis are now available on the official dashboard. See the pinned post on our homepage for exclusive access.